Iraq's Oil Minister declares Iraq will not agree to future OPEC+ oil production cuts in June 1st meeting.
Iraq's Oil Minister Hayan Abdul Ghani states that Iraq will not agree to future oil production cuts proposed by OPEC+ at their June 1st meeting. Despite previously exceeding output quotas, Baghdad has agreed to compensate with additional production cuts for the rest of 2024. As the 2nd largest OPEC oil producer, Iraq believes it has already made sufficient cuts and is not willing to extend them.
May 11, 2024
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